$452 mln IPO from LDK Solar on deck

SteveGelsi

NEW YORK (MarketWatch) -- LDK Solar
ldk
plans to offer 17.38 million shares at $25-$27 a share in a bid to raise about $452 million in its initial public offering on Friday. The China-based maker of multicrystalline solar wafers plans to trade on the New York Stock Exchange under the symbol LDK with underwriters Morgan Stanley
MS, -0.47%
and UBS Investment Bank
UBS, +0.10%
It's the latest in a series of Chinese solar energy equipment makers to go public. China Sunergy
csun
rallied 50% in its IPO on May 17 at $11 a share. The stock is trading at $12.04 now. China-based solar incumbents in the U.S. stock market include JA Solar
JASO, -0.67%
Solarfun Power Holdings
solf
and Suntech Power
STP, +0.55%
David Menlow of IPOfinancial.com said LDK Solar has drawn fans for its quick growth and profit margin.

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